KarlTom:
I'll help you (a little)

1. Nigeria spends an estimated $10billion annually on round trip of refining petroleum produce.
2. Nigeria spends an estimated $7billion annually on subsidizing petroleum produce because of #1.
3. DR will bring much needed FX through export of petroleum produce.
4. Nigeria spends billions on fertilizer imports yearly. At about 3MT/year, DR will satisfy local needs and still have enough for export.
5. DR currently exports most of their aviation jet fuel and diesel.
6. The burden on our Excess Crude Account will be reduced...

If all those needless imports are removed (or reduced by over 50%) the improvement will be very visible...

stockbull:
Greetings to everyone here.

I'm writing this post to target newbies in this market.

First, it's good this thread has helped one or two people, and there are many good people that are willing to help others here.

If you ask me, I still read and learn from you guys here but I'm not that active in this market, hence don't have much to contribute.

However, one thing I'm very sure about, No one can maximize growth opportunities in long term by being a core fundamentalist or Technical analyst (FA or TA follower.), Not in this age anymore.

People who're relatively new in this game should swallow this bitter truth that in this age, the two are very important to grow their portfolios.

The competition between TA and FA is a global thing, and not here only.

FA is reasonable, while TA defies logics, and both works.

The FA apostles find it difficult to accept TA because it's not reasonable, and they believe company's performance precede the chart.

Also, FA was the only tool accessible in the past when the world has not become a one community.

TA apostles accept FA, and grow with the trend, hence compliment the two.

Whether you're a core FA or TA today, the two works to make money, and that's exactly what should be the focus.

Let me tell a short story that birthed this thread.

I was exposed to the US market some years back because I love the American culture.

I invested in the US stocks through my then broker, TDAmeritrade. While there was no robust investing platform then, I love being on the internet.

I was also one of the early birds of StockMarketNigeria (SMN) but was not that active, but read daily with my general moniker.

I visit and talk once in a while because I bought some IPOs days when companies flaunt their banners on Billboard on main federal roads then, we don't see that today anymore.

What I experienced with foreign market made me registered a new moniker 'Stockbull', and wanted to incorporate TA in the Nigerian market.

Whoooh, I was not giving a breeding space on SMN because the majority are Fundamentalists, TA isn't reasonable, NSE has not gone digital then.

I lost a lot of money too because my analog broker don't always buy stocks at my desired price.

TA was almost impossible on NSE unless you're a broker or have a big fund to influence.

I registered my moniker Stockbull again on Nairaland and NigerianBestForum, and opened this thread to outlive SMN.

I was trying my best, and many people started contributing their TA and FA knowledge here, and this thread and picks became their discussion on SMN.

Some of the FA apostles registered here to prove TA wrong here, but we were moving, and many of them grew with time to incorporate TA.

Some were not bold to admit it, but some did and TA followers grew to a level the FA guys were not able to challenge them.

My candid advice again,
Whether you're a core FA or TA today, the two works to make money, and that's exactly what should be the focus.

yMcy56:

Dey don come again....😊

brotherly:


Price might drop , but it will never be full offer. Oando fit wan rest small to drink water before phase 3 start

When volume and price moves the way Oando has done , it is likely very many people are thinking medium/long term

mikeapollo:


Where and when was the so-called ''consensus'' held virtually with ''everyone'', and with whom?. I did not give any consent to any useless subsidy removal and floating of the Naira.
Only a foolish president would just wake up and direct its central bank to float its currency overnight, without any stakeholder consultation or engagement. It boils down to the empty arrogance of the Tinubu govt who thinks he is super clever,
Why? Is Tinubu more intelligent than previous presidents/govts. that refused to float the naira or what does he think he is?.
Disaster is what happens to any country, African for that matter, that decides to float its currency in an import-dependent economy.
You first said, ''subsidy is gone''. then you went back to devalue your currency when you know that we import fuel into the country for virtually everyday use. Common sense should tell you that the best thing is to manage the exchange rate and never to allow the artificial, invisible hand of 'free market'' to dictate your exchange because that is recipe for disaster for an import dependent country

GeeKudi:


Well, by "consensus", I mean statistical majority.
Bare one or two fringe candidates in the last general elections, the three major contenders all agreed on these two policies and we queued behind them and applauded them each time they reiterated these things without querying them on the potential fall outs of their implementatioin.

KarlTom:

brotherly:


However, not allowing the naira to float would have required subsidizing the exchange rate using borrowed funds

brotherly:


However, not allowing the naira to float would have required subsidizing the exchange rate using borrowed funds

HesInMe:
It is shameful that you even have to explain.

An entrepreneur spent billions building our only functional refinery at home and employing thousands of our own citizens to supply products we all badly need. You'd think every Nigerian would be bashing anyone standing in his way. But look how we're treating him.

In countries that have sense, we'd be naming airports and monuments after him.


I'll help you (a little)

1. Nigeria spends an estimated $10billion annually on round trip of refining petroleum produce.
2. Nigeria spends an estimated $7billion annually on subsidizing petroleum produce because of #1.
3. DR will bring much needed FX through export of petroleum produce.
4. Nigeria spends billions on fertilizer imports yearly. At about 3MT/year, DR will satisfy local needs and still have enough for export.
5. DR currently exports most of their aviation jet fuel and diesel.
6. The burden on our Excess Crude Account will be reduced...

If all those needless imports are removed (or reduced by over 50%) the improvement will be very visible...

megawealth01:


He should have waited to put things in place before "subsidy is gone" gibberish

megawealth01:

https://www.youtube.com/watch?v=1X9VTqlQG7g?si=aYYectMKwnBkIEkz

Dangote Displays Neat Petrol Samples, As Tankers Are Loading

megawealth01:

https://www.youtube.com/watch?v=1X9VTqlQG7g?si=aYYectMKwnBkIEkz

Dangote Displays Neat Petrol Samples, As Tankers Are Loading

megawealth01:


And the war continues. I just hope they won't want to frustrate Alhaji

brotherly:


However, not allowing the naira to float would have required subsidizing the exchange rate using borrowed funds

KarlTom:
In all your getting, get yourself a friend like Ote$...

https://x.com/realFemiOtedola/status/1830958718113968469?t=TZGeO5Afn3giZNj9bmbXfQ&s=19

megawealth01:
Dangote Displays Neat Petrol Samples, As Tankers Are Loading

SpaceX:
I was with him some hours ago if you watch the video you can see me on black tailored suit at his right hand, I have some important inside info that I will reveal later tonight for free.

SpaceX:
I was with him some hours ago if you watch the video you can see me on black tailored suit at his right hand, I have some important inside info that I will reveal later tonight for free.

chimex38:

such Honorable Words..

Agbalowomeri:


For a short while! We still had same shortfall anyway but with MASSIVE suffering.
When we are fully self-sufficient in PMS and related products, we could have then floated naira. That way, the collateral damages would have been minimized.

thebargainhunte:
People have been losing money in Dangote listed companies since February this year.

megawealth01:


Nothin lost unless you sold

thebargainhunte:

Time is money bro.
Imagine buying Dangsugar early this year @ #89.50, the same company closed @ #37.05 today. After factoring devaluation, you would agree with me that you really lost money despite not selling.